+
AM/NS India aims 40 mt capacity by 2035
Steel

AM/NS India aims 40 mt capacity by 2035

Dilip Oommen, Chief Executive Officer, ArcelorMittal Nippon Steel India (AM/NS India), stated that the demand for steel in India would increase due to the country's low per capita consumption and the government's focus on infrastructure development. The company's current capacity of 9 million tonne would expand to 40 million tonne by 2035. When asked about the company's plans for acquisitions, Oommen referred to the list of previous acquisitions that began with the acquisition of Essar Steel from the bankruptcy court in 2019.

India's per capita steel consumption is currently low, indicating that it can only go upwards, especially with the need for infrastructure development in various sectors like roads, ports, and airports.

The company aims to achieve a manufacturing capacity of 40 million tonne by 2035. Presently, the company is producing close to 8 million tonne per annum at the Hazira plant, and this will be increased to 15 million tonne and then 22 million tonne. Additionally, they plan to undertake a greenfield expansion in Odisha.

The company is currently a flat steel manufacturer, they will also venture into long products. They are considering both organic and inorganic approaches for growth.

Also read: 
Indian Mineral Production records positive growth in April 2023
India surpasses China in Coal-based Steel Capacity


Dilip Oommen, Chief Executive Officer, ArcelorMittal Nippon Steel India (AM/NS India), stated that the demand for steel in India would increase due to the country's low per capita consumption and the government's focus on infrastructure development. The company's current capacity of 9 million tonne would expand to 40 million tonne by 2035. When asked about the company's plans for acquisitions, Oommen referred to the list of previous acquisitions that began with the acquisition of Essar Steel from the bankruptcy court in 2019. India's per capita steel consumption is currently low, indicating that it can only go upwards, especially with the need for infrastructure development in various sectors like roads, ports, and airports. The company aims to achieve a manufacturing capacity of 40 million tonne by 2035. Presently, the company is producing close to 8 million tonne per annum at the Hazira plant, and this will be increased to 15 million tonne and then 22 million tonne. Additionally, they plan to undertake a greenfield expansion in Odisha. The company is currently a flat steel manufacturer, they will also venture into long products. They are considering both organic and inorganic approaches for growth. Also read:  Indian Mineral Production records positive growth in April 2023India surpasses China in Coal-based Steel Capacity

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Assam Gets Approval For 350,000 PMAY Homes

Assam Chief Minister Himanta Biswa Sarma met Union Agriculture Minister Shivraj Singh Chouhan in New Delhi, where the minister handed an approval document for 310,000 new homes under the Pradhan Mantri Awas Yojana. The chief minister subsequently posted on X expressing gratitude and noting that the minister had formally handed approval for 380,000 homes as well. The release and the social media post contained varying figures, with broader references to 350,000 homes reported in some summaries. The approvals carry central assistance equivalent to Rs 50 billion (bn), corresponding to the five th..

Next Story
Infrastructure Urban

KPIGreen Achieves Highest Energised Capacity of 630+ MW DC

KPI Green Energy energised more than 630 MW DC of capacity in the June to August quarter, marking the highest quarterly addition in the company's history. The capacity was brought online across its Independent Power Producer (IPP) and Engineering, Procurement and Construction (EPC) businesses. The company said the achievement reflected the scale, speed and consistency of its project execution engine. The firm described the quarter as a material operational milestone since its founding. The milestone covers a diversified mix of IPP assets and projects executed under the EPC vertical, spanning u..

Next Story
Infrastructure Energy

Adani Energy Solutions Wins Rs 47 bn Maharashtra Transmission Project

Adani Energy Solutions has won a transmission contract in Maharashtra valued at Rs 47 billion (Rs 47 bn) to evacuate 4,500 megawatt (MW) of renewable and storage power. The company informed exchanges that the project will facilitate pumped storage potential near Satara and strengthen the inter-regional corridor between the Western and Southern grids. The award follows a competitive bidding process and will support renewable energy evacuation to major load centres in the state. The scope includes establishment of a 765/400 kV substation at Satara, construction of a Kolhapur-Satara 765 kV double..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code